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Chief executive Dr Ivan McCabrey said while the global market for specialist construction and fit-out was recovering, competition from rivals was intense and pressure on profit margins and cash reserves favoured the largest international companies.

Mivan employs 289 people and is the main trading company created from a restructuring of the group in 2012.

Other previous contracts include re-roofing the Dome of the Rock mosque in Jerusalem, work on Disneyland Paris and theme park development for Universal Studios in Orlando, Florida.

The company was founded in 1975 by Dr McCabrey while he was still an engineering student at Queen's University Belfast.